Advasa Holdings Clarifies Direct Listing Mechanics and Shareholder Ownership

Advasa Holdings, Inc. (Nasdaq: ADBT) issued a press release on September 9, 2026, to clarify details regarding its direct listing, the status of registered resale shares, and the ownership of its largest shareholder. The company began trading on the Nasdaq Global Market on August 25, 2026, via a direct listing. The company clarified that this process was not an underwritten offering and that it did not issue or sell any shares, nor did it receive any proceeds from the listing.

The press release addressed the resale prospectus, which relates to up to 94,046,357 shares of common stock held by existing stockholders. The company emphasized that these are existing shares, not newly issued ones, and that it will not receive any proceeds from sales by these registered stockholders. The company also confirmed that the number of shares issued and outstanding remained at 487,065,702 as of August 12, 2026, as reported in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026.

Regarding the largest shareholder, Mr. Asamitsu Kosugi, the company confirmed that he beneficially owns 232,638,232 shares, representing approximately 47.76% of the outstanding common stock. The company verified that from the commencement of trading on August 25, 2026, through September 9, 2026, Mr. Kosugi sold no shares in open-market transactions or through private transfers. Additionally, the company confirmed that none of his shares are pledged as collateral, subject to margin loans, or part of any hedging or securities lending arrangements.

The company also provided an update on its management transition, noting that Katharyn Field resigned as Chief Financial Officer on August 27, 2026, for personal reasons. Chief Executive Officer Grady Ryther is serving as interim CFO while the company searches for a permanent successor. In other business updates, the company announced that its ADVASA Visa card now supports USD Coin (USDC) payments alongside traditional fiat currency, and it intends to explore opportunities in tokenizing real-world assets.